Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Jun. 30, 2015

Fair Value Measurements, Nonrecurring [Table Text Block]

Following is a summary of the activity in the allowance for losses on impaired loans, including troubled debt restructurings:

	Three Months Ended
	June 30,
	2015		2014

Balance, beginning of year	$	53,665	$	65,525
Loan charge-offs		-		-
Loan recoveries		-		-
Provision for (credit to) loan losses		36,455		-
Balance, end of year	$	90,120	$	65,525

Schedule of Carrying Values and Estimated Fair Values of Financial Instruments [Table Text Block]

The carrying amount, fair value and the financial hierarchy of the Company’s financial instruments are summarized in the following table. Fair values of financial instruments have been estimated by the Company based upon available market information with the assistance of an independent consultant.

	June 30,
	2015
	Carrying		Fair		Fair Value Measurements Using
	Amount		Value		(Level 1)		(Level 2)		(Level 3)

Non-trading instruments and nonderivatives:
Cash and cash equivalents	$	20,101,072	$	20,101,072	$	20,101,072	$	-	$	-
Stock in FHLB of Chicago		1,165,513		1,165,513		-		1,165,513		-
Loans receivable, net		74,894,126		78,056,335		-		76,476,983		1,579,352
Accrued interest receivable on loans		236,935		236,935		-		236,935		-
Deposits		78,901,721		76,141,953		-		76,141,953		-
Accrued interest on deposits		63,111		63,111		-		63,111		-
Advances from FHLB of Chicago	$	5,000,000	$	5,300,718	$	-	$	5,300,718	$	-

	March 31,
	2015
	Carrying		Fair		Fair Value Measurements Using
	Amount		Value		(Level 1)		(Level 2)		(Level 3)

Non-trading instruments and nonderivatives:
Cash and cash equivalents	$	16,720,008	$	16,720,008	$	16,720,008	$	-	$	-
Stock in FHLB of Chicago		1,165,513		1,165,513		-		1,165,513		-
Loans receivable, net		75,463,746		79,924,031		-		78,347,039		1,576,992
Accrued interest receivable on loans		257,576		257,576		-		257,576		-
Deposits		76,290,961		72,906,558		-		72,906,558		-
Accrued interest on deposits		50,070		50,070		-		50,070		-
Advances from FHLB of Chicago	$	5,000,000	$	5,353,750	$	-	$	5,353,750	$	-